Any Recommendations About Where To Buy Gold

[Cozza]

Am thinking about buying some gold online but not sure where to buy from. Has anyone dealt with Bullion Vault or Oanda and can offer a recommendation?

Tar, Cozza

[Bear Necessities]

Am thinking about buying some gold online but not sure where to buy from. Has anyone dealt with Bullion Vault or Oanda and can offer a recommendation?

Tar, Cozza

I second that.

Don't want to hold physical myself but do want something that they hold on my behalf (so it's actual gold not just the promise of some fictional gold (stored at the end of a rainbow probably).

Also how quickly can you sell it, is it as simple as clicking "sell".

Wow I know next to nothing about this subject (so probably shouldn't be investing)

[bumpy]

I second that.

Don't want to hold physical myself but do want something that they hold on my behalf (so it's actual gold not just the promise of some fictional gold (stored at the end of a rainbow probably).

Also how quickly can you sell it, is it as simple as clicking "sell".

Wow I know next to nothing about this subject (so probably shouldn't be investing)

I would be interested to know if there are any places that hold ALL the gold for ALL their customers, or is this another Ponzi scheme?

[General Congreve]

I second that.

Don't want to hold physical myself but do want something that they hold on my behalf (so it's actual gold not just the promise of some fictional gold (stored at the end of a rainbow probably).

Also how quickly can you sell it, is it as simple as clicking "sell".

Wow I know next to nothing about this subject (so probably shouldn't be investing)

And the day just before you click "sell" the government passes emergency legislation to place 90% CGT on gold sales, to discourage the 'evil speculators' from damaging the pound further, and and you lose almost all your profits if you click "sell". Meanwhile Johnny Physical takes his stash to the local black marketeer or over to mainland Europe and does quite nicely thank you.

I do see Bullionvault as being fairly legit and actually owning the gold they claim to have allocated for accounts, but the fact the whole system is electronic leaves you wide open to the machinations of the corrupt powers that be.

[Bear Necessities]

I was just hoping to invest in a little bit of gold to hedge against the inflation that is eating my savings. I'm not looking to make super profits on it, I just want something that will compensate for the 2 or 3 (or 5 or 6) percent erosion of my savings as they sit in the bank. I'd be happy to maintain position to be honest, at the moment seem to be swimming against the current and losing ground with every new announcement.

I'm not convinced by the near apocalyptic scenarios that would require me to smuggle gold to the continent in my bottom in order to sell it.

If we got to that stage I think I'd be one of the first people to get eaten. (not that there is much meat on me, but I'm rubbish at running and don't own a shotgun)

Edited January 26, 2011 by Bear Necessities

[General Congreve]

I was just hoping to invest in a little bit of gold to hedge against the inflation that is eating my savings. I'm not looking to make super profits on it, I just want something that will compensate for the 2 or 3 (or 5 or 6) percent erosion of my savings as they sit in the bank. I'd be happy to maintain position to be honest, at the moment seem to be swimming against the current and losing ground with every new announcement.

I'm not convinced by the near apocalyptic scenarios that would require me to smuggle gold to the continent in my bottom in order to sell it.

If we got to that stage I think I'd be one of the first people to get eaten. (not that there is much meat on me, but I'm rubbish at running and don't own a shotgun)

OK, a bit of perspective:

1. The situation is graver than the powers that be would have us believe, as you aptly point out with your annualised loss on your savings.

2. The situation is going to get a lot worse. There will be many fortunes lost, a few fortunes made and things will be generally a lot sh1ttier than they are now for the majority of the population for a some years to come.

3. Unless the coming drop in income and living standards across the western world results in the people being whipped up into a WW3-starting frenzy by nutty politicians (could happen), then there will be no apocalypse, only 2 (see above).

Now, if you want to protect your wealth, beware the government. They are already stealing your wealth through negative real interest rates, they have abolished TIPS, they have increased taxes, they have increased CGT. They are making it increasingly difficult to maintain, let alone grow wealth. There is no real outcry from savers vis-a-vis interest rates, so no one will come running when the government whacks massive CGT on gold/silver sales that only affects 2-3% of the population.

If you want to protect your savings and prosper by investing in precious metals you need to take into account that if your holdings are electronic, by the time you get wind of any CGT increase that is on the way (or that the government is freezing/confiscating all electronic accounts), you may well not have the opportunity to sell out of your electronic account and buy physical, as:

a) your account may be inoperable

b ) the physical may be all but gone in the real 'non-paper gold' world

c) or physical may be selling at such a premium to the 'fixed' spot price, that its protective value is severely dented, losing you a serious chunk of your original investment.

So, as you can see, I only recommend owning physical, with a small allocation of mainly junior mining shares as a bit of a punt on the side that should pay even bigger leveraged gains, if you can still cash your winnings once the government have legislated the f4ck out of everything in order to stop the prudent making gains at their fixed casino.

Edited January 26, 2011 by General Congreve

[Bear Necessities]

OK, a bit of perspective:...

You make some interesting (and depressing!) points.

Thanks for your input.

Edited January 26, 2011 by Bear Necessities

[GeordieAndy]

Various points I agree with

Top post GC.

[Cozza]

OK, a bit of perspective:

1. The situation is graver than the powers that be would have us believe, as you aptly point out with your annualised loss on your savings.

2. The situation is going to get a lot worse. There will be many fortunes lost, a few fortunes made and things will be generally a lot sh1ttier than they are now for the majority of the population for a some years to come.

3. Unless the coming drop in income and living standards across the western world results in the people being whipped up into a WW3-starting frenzy by nutty politicians (could happen), then there will be no apocalypse, only 2 (see above).

Now, if you want to protect your wealth, beware the government. They are already stealing your wealth through negative real interest rates, they have abolished TIPS, they have increased taxes, they have increased CGT. They are making it increasingly difficult to maintain, let alone grow wealth. There is no real outcry from savers vis-a-vis interest rates, so no one will come running when the government whacks massive CGT on gold/silver sales that only affects 2-3% of the population.

If you want to protect your savings and prosper by investing in precious metals you need to take into account that if your holdings are electronic, by the time you get wind of any CGT increase that is on the way (or that the government is freezing/confiscating all electronic accounts), you may well not have the opportunity to sell out of your electronic account and buy physical, as:

a) your account may be inoperable

b ) the physical may be all but gone in the real 'non-paper gold' world

c) or physical may be selling at such a premium to the 'fixed' spot price, that it's protective value is severely dented, losing you a serious chunk of your original investment.

So, as you can see, I only recommend owning physical, with a small allocation of mainly junior mining shares as a bit of a punt on the side that should pay even bigger leveraged gains, if you can still cash your winnings once the government have legislated the f4ck out of everything in order to stop the prudent making gains at their fixed casino.

Thanks for the thoughtful response. You obviously aren't keen on investing in gold. Would alternative would you suggest, other than allow savings to wither into the beyond?

[bumpy]

OK, a bit of perspective:

1. The situation is graver than the powers that be would have us believe, as you aptly point out with your annualised loss on your savings.

2. The situation is going to get a lot worse. There will be many fortunes lost, a few fortunes made and things will be generally a lot sh1ttier than they are now for the majority of the population for a some years to come.

3. Unless the coming drop in income and living standards across the western world results in the people being whipped up into a WW3-starting frenzy by nutty politicians (could happen), then there will be no apocalypse, only 2 (see above).

Now, if you want to protect your wealth, beware the government. They are already stealing your wealth through negative real interest rates, they have abolished TIPS, they have increased taxes, they have increased CGT. They are making it increasingly difficult to maintain, let alone grow wealth. There is no real outcry from savers vis-a-vis interest rates, so no one will come running when the government whacks massive CGT on gold/silver sales that only affects 2-3% of the population.

If you want to protect your savings and prosper by investing in precious metals you need to take into account that if your holdings are electronic, by the time you get wind of any CGT increase that is on the way (or that the government is freezing/confiscating all electronic accounts), you may well not have the opportunity to sell out of your electronic account and buy physical, as:

a) your account may be inoperable

b ) the physical may be all but gone in the real 'non-paper gold' world

c) or physical may be selling at such a premium to the 'fixed' spot price, that it's protective value is severely dented, losing you a serious chunk of your original investment.

So, as you can see, I only recommend owning physical, with a small allocation of mainly junior mining shares as a bit of a punt on the side that should pay even bigger leveraged gains, if you can still cash your winnings once the government have legislated the f4ck out of everything in order to stop the prudent making gains at their fixed casino.

Thats the most sensible post I have seen from you. Refreshingly honest and mindfall of all the pitfalls that exist by being in precious metals.

[bumpy]

Thanks for the thoughtful response. You obviously aren't keen on investing in gold. Would alternative would you suggest, other than allow savings to wither into the beyond?

Many people on here are wanting to buy property when the crash has occurred. So 'losses' on your savings are irrelevant if property is falling at a greater rate, which it will.

[Bear Necessities]

Many people on here are wanting to buy property when the crash has occurred. So 'losses' on your savings are irrelevant if property is falling at a greater rate, which it will.

That's a good point also.

[General Congreve]

I have a goldmoney account as for me they are trades and I'm not interested in physical. It's quite straightforward although I've never hit the sell button so can't honestly give you a full review, nor one on whether any PMs are a good buy/not. Personal thing and rember to take storage and any buy/sell commission into account.

GC - re. TIPS. I guess you're referring to linkers? They haven't been abolished, I think you're referring to inflation -linked notes from NS&I.

Really? News to me. Perhaps you could start a new thread with info on this, many would be interested if true.

[General Congreve]

Thanks for the thoughtful response. You obviously aren't keen on investing in gold. Would alternative would you suggest, other than allow savings to wither into the beyond?

On the contrary, I am ultra-bullish on gold. But only the physical kind.

Do not be scared of the authorities re: tax, new laws, confiscation etc. For example many drugs are outlawed, yet strangely they still seem to be fairly freely available. Where there's a will, there is a black market way. Of course, for those that wish to bend over and take it the 'fiat negative real interest rate' way, that is your choice.

I would add that if you want to try and trade gold, then an online account with lower transaction fees is good for this. But if you are looking for long term protection for your savings (and the very strong possibility of substantial speculative gains), then I would only go down the physical route.

Edited January 26, 2011 by General Congreve

[General Congreve]

Many people on here are wanting to buy property when the crash has occurred. So 'losses' on your savings are irrelevant if property is falling at a greater rate, which it will.

IF it falls at a greater rate. It may or may not, the track record of our politicians should give you pause for thought on that one.

Far better to maintain the real value of your savings (and most likely increase them) than watch them dwindle, even if you beat the rate of house price decline. The person who protects/grows his savings will end up with the most to spend on a new (bigger) house than he who does nothing and lets inflation eat his savings.

Edited January 26, 2011 by General Congreve

[General Congreve]

Thats the most sensible post I have seen from you. Refreshingly honest and mindfall of all the pitfalls that exist by being in precious metals.

Steady on! When have I been dishonest? I've been saying the same thing for years!

Anyway, thanks for the compliment, even if it is a bit back-handed

[duckwomanloulou]

OK, a bit of perspective:

1. The situation is graver than the powers that be would have us believe, as you aptly point out with your annualised loss on your savings.

2. The situation is going to get a lot worse. There will be many fortunes lost, a few fortunes made and things will be generally a lot sh1ttier than they are now for the majority of the population for a some years to come.

3. Unless the coming drop in income and living standards across the western world results in the people being whipped up into a WW3-starting frenzy by nutty politicians (could happen), then there will be no apocalypse, only 2 (see above).

Now, if you want to protect your wealth, beware the government. They are already stealing your wealth through negative real interest rates, they have abolished TIPS, they have increased taxes, they have increased CGT. They are making it increasingly difficult to maintain, let alone grow wealth. There is no real outcry from savers vis-a-vis interest rates, so no one will come running when the government whacks massive CGT on gold/silver sales that only affects 2-3% of the population.

If you want to protect your savings and prosper by investing in precious metals you need to take into account that if your holdings are electronic, by the time you get wind of any CGT increase that is on the way (or that the government is freezing/confiscating all electronic accounts), you may well not have the opportunity to sell out of your electronic account and buy physical, as:

a) your account may be inoperable

b ) the physical may be all but gone in the real 'non-paper gold' world

c) or physical may be selling at such a premium to the 'fixed' spot price, that its protective value is severely dented, losing you a serious chunk of your original investment.

So, as you can see, I only recommend owning physical, with a small allocation of mainly junior mining shares as a bit of a punt on the side that should pay even bigger leveraged gains, if you can still cash your winnings once the government have legislated the f4ck out of everything in order to stop the prudent making gains at their fixed casino.

Whilst I agree with you GC - stashing 100's oz's of gold or 1000's oz in the case of silver in and around your person/property is not necessarily safe! If you go via GoldMoney you can have your electronic stash converted to physical for collection from Bairds in London so a quick phone call to them to confirm this will circumnavigate any Govt attempts at intervention confiscation wise on your electronic account. The CGT is difficult to avoid but if you have a GoldCore account they do a Gold Saver Account which when you have 6 oz's worth saved you can have it delivered as physical in Sov format (thereby avoiding CGT unless they change the rules on legal tender coins). Also BullionVault's latest investors in the business are non other than Rothschilds which smacks of the fox entering the hen house ...

Just my sov's worth

[ken_ichikawa]

And the day just before you click "sell" the government passes emergency legislation to place 90% CGT on gold sales, to discourage the 'evil speculators' from damaging the pound further, and and you lose almost all your profits if you click "sell". Meanwhile Johnny Physical takes his stash to the local black marketeer or over to mainland Europe and does quite nicely thank you.

Yup, thats the beauty of gold, it is compact enough to stuff up your bum when TSHTF and take the ferry to France and escape.. Kruggerands for instance are often smuggled in purses full of pount coins....

I'm not so sure about silver though!

[Number79]

I bought another 40oz of silver yesterday and 15 today.

Will be buying sovs when we get to 1300 or below.

I dont like bv/gm personally but they suit others.

[ken_ichikawa]

Thanks for the thoughtful response. You obviously aren't keen on investing in gold. Would alternative would you suggest, other than allow savings to wither into the beyond?

I so don't want to be buying PMs either, but the government has forced my hand. My overseas location uses proxy US$ and therefore it is risky to hold cash there.

I'm increasing my holding from 5% of my net worth to about 8% middle of next month....

[ken_ichikawa]

Steady on! When have I been dishonest? I've been saying the same thing for years!

Anyway, thanks for the compliment, even if it is a bit back-handed

You are Max Keiser and I claim my 1oz of fine silver, none of this sterling silver crap at .925 purity!

[ken_ichikawa]

Whilst I agree with you GC - stashing 100's oz's of gold or 1000's oz in the case of silver in and around your person/property is not necessarily safe! If you go via GoldMoney you can have your electronic stash converted to physical for collection from Bairds in London so a quick phone call to them to confirm this will circumnavigate any Govt attempts at intervention confiscation wise on your electronic account. The CGT is difficult to avoid but if you have a GoldCore account they do a Gold Saver Account which when you have 6 oz's worth saved you can have it delivered as physical in Sov format (thereby avoiding CGT unless they change the rules on legal tender coins). Also BullionVault's latest investors in the business are non other than Rothschilds which smacks of the fox entering the hen house ...

Just my sov's worth

I disagree completely, to seize your gold they click a button, when you find out you will probably be at work and get home couple days later a letter drops onto your door mat telling you for national security your PMs have been seized.

While physical they have to round up some infantry and come kick my door down to get their hands on it. Thats if they know the location of my stash too, since I've been ordering Pms through my sisters address... this requires much more effort than a click of a button.

[Number79]

I so don't want to be buying PMs either, but the government has forced my hand. My overseas location uses proxy US$ and therefore it is risky to hold cash there.

I'm increasing my holding from 5% of my net worth to about 8% middle of next month....

Fk me ken, is that why you have insomnia....worrying about the other 95%

[jonesinamillion]

I've only just modestly started out in the PM merry-go-round.

To the OP, I've opted for the physical route and wouldn't be comfortable dealing in "electronic" gold / silver. I love the idea that my coins / bars are untraceable!!!

I would reccomned bullionbypost.co.uk as their prices are very competative with fast, free insured delivery, they gave me great service anyway.

Incidentally, I have big hopes for silver this year so will be getting some more in either bars or coins once i think it's "bottomed out".

One more thing, ebay is a good place to pick up PMs but keep your witts about you!

Good luck fella!